Hispanic- and Latino-owned businesses are the fastest-growing segment of the U.S. business landscape, with nearly 5 million companies generating about $2.8 trillion in economic output.
It’s an innovative and resilient community. For the past 15-plus years, Latino-owned businesses have outpaced the growth of U.S. businesses in general, according to research from the Stanford Graduate School of Business and Latino Business Action Network. From the start of the COVID-19 pandemic through late 2022, Latino-owned businesses grew revenue by 25% on average; white-owned companies, by comparison, experienced an average revenue growth of 9%.
But challenges remain for business owners seeking to scale. These range from accessing capital to recruiting and retaining talent to building professional networks.
JPMorgan Chase’s $30 billion Racial Equity Commitment aims to help close the racial wealth gap and drive inclusive growth for historically underrepresented communities. This includes advancing Hispanic and Latino companies through relationships, business opportunities, financial solutions, resources and more.
Here, we’ve collected content to help Hispanic and Latino business owners drive growth, optimize operations and become better leaders.
“[Certification] is really only Step 1. Once you have it, you have to start marketing yourself and developing relationships with the companies you want to do business with.”
Armando Soto, co-founder of From Roots to Flowers
Mabel and Shaira Frías, co-founders of Luna Magic
“As the largest Latino-focused Community Development Financial Institution (CDFI), Raza’s impact is immeasurable. We’re proud to support Raza’s work—especially in education, community health care and burgeoning small businesses in underserved Latino communities—as the CDFI helps shape the servant leaders of tomorrow.”
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